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UAE property values edge upwards



Country:  UAE

9 June 2009

UAE property prices rose in April and May, according to HSBC.

The bank states that Abu Dhabi property values and Dubai property prices appreciated by 4% in April and 5% in May, but said that it was still far too early to tell if the market had bottomed out.

A survey conducted by the bank also reveals that a growing number of property agents feel that property prices are starting to stabilise on the back of greater demand for properties, combined with a fall in residential stock.

Despite the recent price growth, the average price of a sold home in the UAE has fallen by 23% since the peak of the market in September, while average asking prices have fallen by 65%. 
 


See Also:   Abu Dhabi, Dubai, UAE


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